The Rise of Female-Founded Fintech Startups: A New Era in Finance
A few months ago, we published an article highlighting successful female-founded European fintech startups, primarily focusing on later-stage companies that have established themselves as brand names in their respective sectors. However, the landscape of fintech is evolving, and a new wave of early-stage female founders is emerging, poised to make significant impacts in the industry.
Progress in Female Representation in Fintech
In recent years, there has been a notable increase in the number of women stepping into the role of fintech founders. According to Findexable, the percentage of top-performing fintech companies founded before 2010 with a woman in the founding team was less than 6%. Fast forward to 2018 and 2019, and that number rose to nearly 20%. By 2020, it reached an impressive 30%. This upward trend is not just a statistic; it reflects a growing recognition of the need for diversity in financial services.
The upcoming all-female fintech panel at this year’s EU-Startups Summit is a testament to this progress. It showcases the voices and insights of women who are shaping the future of finance.
Early-Stage Female-Founded Fintech Startups
Among the exciting new entrants in the fintech space are several early-stage companies founded during the pandemic. These startups are not just filling gaps in the market; they are redefining how financial products are developed and delivered. Here are some noteworthy examples:
Your Juno
Your Juno is a financial education platform designed specifically for women and non-binary individuals. Founded in 2020 by sisters Alexia and Margot de Broglie, the platform aims to close the gender gap in financial literacy. With courses covering topics from investing to retirement savings, users can learn from relatable financial experts. Recently, Your Juno secured an additional €1.96 million in funding, underscoring its potential impact.
Jove
Jove is revolutionizing insurance for gig economy workers by offering flexible, “fit for purpose” insurance products. Founded in 2020 by Lizhen Cai, Duncan Stuart, and Dave Smith, Jove bundles various insurance products into one subscription, catering to the unique needs of freelancers and consultants. The startup recently closed a €713k pre-seed round, highlighting its promising future.
Bloom Money
Bloom Money is focused on providing fair credit access to migrants and refugees. Set to launch in the UK, the app will offer tools and a community for users to build healthy financial lives. Founded in 2021 by Nina Mohanty, Bloom Money aims to create “Bloom Circles,” allowing users to borrow or save money within their social groups. Nina’s background in various fintech firms adds credibility to this impactful venture.
Lassie
Lassie is a pet insurance startup that emphasizes preventative care. Founded in 2020 by Hedda Båverud Olsson and Sophie Wilkinson, Lassie’s app educates pet owners on how to prevent common injuries, potentially reducing vet visits. The company has also launched the Tass Fund, which provides insurance to those who cannot afford it. With €2.5 million raised, Lassie is gearing up for expansion across Europe.
Finuprise
Finuprise empowers retail investors to make informed decisions through access to sustainability data on over 2,000 stocks. Founded in 2020 by Gaia Balossi and Heidi Lee, the platform includes a community aspect where users can share ideas and create stock playlists. This innovative approach to investing is set to resonate with a new generation of socially conscious investors.
Remagine
Remagine is the world’s first digital, purpose-driven business bank. Founded in 2020 by Julia Profeta Johansso and Sebastian Dienst, Remagine aims to make money a force for good by offering banking services that empower businesses. With €20 million raised, they are already making waves in the German market.
Tot
Tot is a fintech banking platform designed for freelancers and microenterprises. Founded in 2020 by Doris Messina, Bruno Reggiani, and Andrea Susta, Tot aims to digitize financial management for small business owners. The company recently closed a €2 million seed round, indicating strong investor confidence in its mission.
Vitamin
Vitamin is focused on enabling a strong financial future for women. With features like “Discovery Mode,” users can experience investing without risking real money, helping to alleviate fears around investing. Founded in 2021 and based in Berlin, Vitamin has raised €2.8 million, showcasing its potential to empower women in finance.
The Future of Fintech
These early-stage female-founded fintech startups represent a new era in finance, characterized by a commitment to diversity and inclusion. They are addressing unique challenges faced by various demographics, ensuring that financial products are not just one-size-fits-all solutions. As these companies continue to grow and innovate, they are set to reshape the financial landscape for the better.
If you’re a corporate or investor looking for exciting startups in a specific market for potential investment or acquisition, consider exploring our Startup Sourcing Service.